Lightning eMotors reports revenue drop but nearly doubles production

LOVELAND — Zero-emission-vehicle provider Lightning eMotors Inc. (NYSE: ZEV) experienced a 40% year-over-year revenue decline in the second quarter of 2022, to $3.5 million from $5.9 million, the company reported Wednesday. 

Despite that, its production of vehicles and powertrains increased to 74 from 40 in the second quarter in 2021. 

The company posted $35.7 million in earnings, or 35 cents per share, for the quarter. That’s up from a $46.1 million net loss, or 79 cents per share, a year ago. Those earnings include one-time gains of $44.1 million and $10.1 million in earnout and derivative liabilities, respectively. 

In its earnings report, Lightning…